Internet Initiative Japan Inc-(IIJI) Message Board

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Technology Stocks : Internet Initiative Japan Inc-(IIJI)

IIJI 22.07

0.0%

Jan 21 4:00 PM EST

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To: Rupert who wrote (125)	10/21/1999 7:13:00 AM
From: SgtPepper	Read Replies (1) of 170

Shorts covered on this news: INTERNET INITIATIVE JAPAN SHARES RISE 36 PCT [Reuters, 182 words] NEW YORK, Oct 20 (Reuters) - Shares in Japanese Internet service provider Internet Initiative Japan Inc. (NASDAQ:IIJI) jumped 33 percent Wednesday after a Morgan Stanley analyst raised the price target on the stock. Internet Initiative Japan shares rose 14 to 52-3/4, making it the sixth largest net gainer on the Nasdaq Wednesday afternoon. Morgan Stanley analyst Paul Saferstein raised the 12-month share price target on the stock to $60 from $54 on Tuesday. The Tokyo-based ISP went public in August, and last week said it expects revenues for the second quarter ended Sept. 30 to exceed expectations, due to earlier-than-expected completion of certain major systems integration projects. The company said it expects second quarter earnings to grow 20 percent compared to its first quarter earnings. The company also said it expects a foreign exchange loss of about $1 billion Japanese Yen for the second quarter. "Our outlook stays on target, that hasn't changed," said spokeswoman Mami Ogawa. Copyright 1999, Reuters News Service

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